Jeera on NCDEX settled down -1.29% at 19115 on profit booking after prices gained on a lower output forecast and strong demand from overseas buyers. Furthermore, ample stocks position following higher supplies from the producing belt too fuelled the downtrend. A recent assessment by the Federation of Indian Spices Stakeholders in Udaipur, Rajasthan, has forecast India’s cumin seed production at 5.83 million bags of 40 kg each (233,280 tonnes) this year against 4.20 million bags of 40 kg each (168,320 tonnes) last year.

Trading Ideas: 

 * Jeera trading range for the day is 18365-20005. 

* Jeera dropped on profit booking after prices gained on a lower output forecast and strong demand from overseas buyers. 

* Furthermore, ample stocks position following higher supplies from the producing belt too fuelled the downtrend. 

* NCDEX accredited warehouses jeera stocks dropped by 93 tonnes to 639 tonnes. 

*In Unjha, a key spot market in Gujarat, jeera edged down by -13.35 Rupees to end at 18590 Rupees per 100 kg.

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